26/02/10

Closer the session finish entered long position because: 1) financial sector (xlf) w/ $add were posting higher highs; 2) bullish internals (4t<-800 w/ 13t>+800 & $add: +500 while SP500 plus only 0.1% at the moment of trade entry); 3) no $ticks<-100 for the past 20 minutes before position open w/ lots $ticks>+300 and finally 4) no VWAP touch that have corresponded to be one more bullish issue. Fixed trade w/: 1) no ES higher high as NQ & ER have managed to post; 2) no appropriate volume surge confirming upside move; 3) Materials (xlb) (that was one of the most volatile sector during the session) relative weakness. Even further, should note, by summarizing sell & buy orders list when we were at the session top it was clearly evident, that some financial institution was heavily selling its positions in, at least, S&P 500 futures. That's the reason of such ugly two candles posted at the session high (see on the chart). That's the cause of no upside continuation move even when majority factors were betting on it. For the past week: plus 5.75 ES points or almost 6% profit.